Balanced exchange rate and RMB exchange rate policy

Author: Xu Shaoqiang, Li Tiandong, Jiang Boke
Publisher:
Publishing Date: 2006-03-01
Features: This book is one of the works in the Contemporary Chinese Economic Theory Innovation Collection and also a sub-project of "China's Financial Development and the Construction of Shanghai's International Financial Center." Starting from the theory of equilibrium exchange rate, the book comprehensively explores the determination and effects of equilibrium exchange rate, the impact of internal and external balance conflicts on the determination of equilibrium exchange rate, proposes an analytical framework suitable for the equilibrium exchange rate of the RMB, and uses it as the basis for selecting appropriate exchange rate strategies and policies. It proposes judgment indicators for the current sustained appreciation pressure on the RMB and offers recommendations for possible future choices. The book balances theory and practice and has a certain forward-looking perspective.